MVP Group consolidates assets, PLDT buys stake in Meralco’s Radius Telecoms

Tycoon Manuel V. Pangilinan-led PLDT Inc. has acquired a minority stake in affiliate Radius Telecoms of Manila Electric Co. (Meralco) as the group moves to consolidate its internet businesses. 

The P2.1 billion deal was completed last April 30, giving PLDT a 34.9 percent stake in Radius. 

Radius delivers services on an end-to-end full fiber optic network through its more than 8,000 kilometers of fiber lines in Metro Manila and nearby provinces, as well as Clark and Cebu. 

Radius CEO Exequeil “Quiel” Delgado said last December the company aims to double revenues to about P3 billion in 2024.

About the author
Miguel R. Camus
Miguel R. Camus

Miguel R. Camus has been a reporter covering various domestic business topics since 2009.

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